Sorry if this is a dumb question, I’m still new to this insurance stuff. I currently have mercury and my deductible is 1k. I had my catalytic converter stolen recently and my dad’s converter also got stolen a few months back. If they came for my car im worried they will keep coming back and i cannot keep throwing 1k at my car. I’ve heard people paying as low as 250-500 for their deductible and I would rather be paying that than 1k. Would i have to call mercury and add on some kind of protection to my insurance plan?
How to pay for a lower deductible with mercury auto insurance.
byu/aku17 inInsurance
Posted by aku17
7 Comments
No you call to change/lower it but it will affect your premiums.
Deductibles should be affordable not high for a lower premium.
Yes, you have to request this through your carrier, but it will raise your premium.
Just call them and tell them you want to lower your deductible. But be forewarned, it will increase your premiums.
If you are in touch with your dealer they may have a program. I am in a high risk area so for like $10-15 a month my dealer promises the replacement completely free (parts and labor) if stolen within the first 3 years since i drove it off the lot. Not bad compared to the cost of replacing it.
You can call the agent/company to lower it. You could also invest in some security for the converter.
Lower deductible will mean higher monthly payments or a higher payment every 6 months or year, depending on how you pay for insurance.
You have lower payments because you have a higher deductible.
All you have to do is call the insurance company to change any part of your policy.
Think of your deductible as self insurance. Currently you are self insuring your car for the first $1k. As others have said a lower ded will cost you more. Ask your insurance what the impact will be then do the math. Is it worth it? You have to look at probability of a loss vs cost. Odds are it will cost you more in the long run to lower your deductible.